What is Happening to the Share Price of VTX Holdings Ltd?

What does VTX Holdings Ltd do?

VTX Holdings Ltd [ASX:VTX], formerly known as Vortex Pipes Limited, is an Australian company targeting the global demand for the trenchless rehabilitation of vital pipe infrastructure in the water, oil and gas industries, their technology restores the structural integrity and functionality of damaged or ageing pipelines.

Recently it has gone off on a tangent and to acquire a 100% interest in NextGen Networks Ltd. A leading supplier of Network Connectivity, Data Centre facilities and Cloud Services to Australian businesses.

NextGen has developed a unique virtual software technology which has demonstrated over 300% increase in data speeds and over 30% data volume reduction on the world wide web. The technology can be used on any device and improves the performance of existing hardware and networks.

That’s interesting, but what is the chart telling you?

What is the chart telling you?

I personally find it helpful to bring up a chart. Here’s the daily chart of VTX:

VTX Graph

Source: STEX

The announcement to acquire a 100% interest in Next Gen Networks was on 16 June, over two weeks ago. The thing to note is how it has reacted to that news. There may be further news to come.

What now for VTX shares?

VTX had another big day today, up over 20%. You should expect a further positive news announcement to come from this company.

Make an effort to get some of these runs. If you didn’t get this one, resolve to get the next one. There’s always another plane leaving the airport it seems.

With a little charting knowledge you can start to identify some of these opportunities. Go here to find out more.

Terence Duffy,
Research Analyst, Cycles, Trends and Forecasts

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Terence Duffy is an analyst and chartist, specialising in researching economic trends and cycles.  His primary focus is housing and land affordability. But you can also depend on him to offer his unique analysis of stock market charts. As Terence will show you, the charts often forecast, well in advance, the good or bad news to come — which he details in Cycles, Trends and Forecasts.

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